Top 10 AMCs in India 2024

An Asset Management Company (AMC) invests money for its clients, including people and businesses. AMCs gather money from investors to put into different assets, like stocks, bonds, and real estate.

Skilled fund managers at AMCs choose investments to help grow the investors' money. Also called fund management companies, AMCs give investors access to various investment options and aim to deliver higher returns than most people could get on their own. In this blog post, we will look at some of the top 10 AMCs in India, focusing on their mutual fund offerings.
Know more about the Mutual Funds Investments.

Meaning of Asset Management Company (AMC)

An asset management company (AMC) is a firm that invests money for its clients. They invest in different types of investments, such as stocks, bonds, real estate, and private equity. To help small investors, AMCs also manage mutual funds and hedge funds using a centralized approach to managing these portfolios.

AMCs offer customized investment portfolios and various asset options to meet the needs of investors. They do research, analyze data, and manage investment decisions daily. They also make sure to follow legal rules and give regular updates on investment performance. AMCs charge a management fee for their services, which covers the cost of managing these investments.

Meaning of Assets Under Management (AUM)

Assets under management (AUM) in a mutual fund is the total value of all stocks, bonds, and other assets that the fund manages for its clients. In mutual funds, many people pool their money together, and professional fund managers invest it across different assets. Since the prices of these assets can change over time, the mutual fund's AUM also changes.

AUM is important in figuring out the fund's cost ratios and plays a big role in the earnings of the fund management company. Management fees are often based on AUM, so a higher AUM means higher fees, which brings in more income for the company. Funds with large AUMs tend to attract more investors because they are seen as more stable.

List of top asset management companies in India in 2024

Here is a ranking of the largest AMCs in India in 2024, based on assets under management (AUM).

New Players Entering the Asset Management Industry in India

In recent years, many new players have entered India’s asset management industry, driven by rising demand for diverse investment options and a shift from traditional assets like bank deposits and gold. 

These new AMCs are introducing unique strategies and products, often leveraging technology, big data, and personalized portfolios. They focus on specialized funds and sector-specific products to stand out from established AMCs, creating strong competition and encouraging improvements in service and offerings industry-wide. 

An Overview of the Top 10 AMCs in India

Here’s an overview of the top 10 AMCs in India.

1) SBI Funds Management

SBI Funds Management runs SBI Mutual Fund, a joint venture between the State Bank of India and Amundi, a major financial firm from France. SBI Mutual Fund started on February 7, 1992. In July 2004, SBI sold 37% of the fund and brought Amundi in as a partner. SBI Mutual Fund later acquired Daiwa Mutual Fund in 2013 from Japan's Daiwa Group.

2) ICICI Prudential Asset Management Company

ICICI Prudential Mutual Fund was launched in 1998 when ICICI Bank partnered with Prudential Plc. ICICI Prudential Asset Management is one of the top asset management companies (AMCs) in India. It offers exchange-traded funds (ETFs) and other mutual fund options across debt, equity, and hybrid funds.

3) HDFC Asset Management Company

HDFC AMC, launched in 2000, is one of the largest AMCs in India. Known for steady investment returns, it offers ETFs, funds of funds (FOFs), and a wide range of mutual funds in debt, equity, and hybrid categories.

4) Nippon Life India Asset Management Company

Nippon Life India Asset Management, which runs Nippon India Mutual Fund, was originally called Reliance Mutual Fund. It became a joint venture between Reliance Capital and Japan's Nippon Life Insurance. The fund manages investments in debt, equity, pensions, and alternative assets.

5) Kotak Mahindra Asset Management Company

Kotak Mahindra Asset Management runs Kotak Mahindra Mutual Fund, which was started in 1998. It offers a wide variety of funds, including equity, debt, hybrid, fund-of-funds, and ETFs to suit different investor needs. 

6) UTI Asset Management Company Company

UTI AMC, in business since 1964, is one of India's leading AMCs. It manages domestic and offshore funds and provides various services, such as discretionary, non-discretionary, and advisory services for high-net-worth individuals, corporations, and institutions.

7) Aditya Birla Sun Life Asset Management Company

This company runs Aditya Birla Sun Life Mutual Fund, which began in 1994 as a joint venture between the Aditya Birla Group and Canada's Sun Life Financial Inc. Now a major AMC in India, it offers many fund options, including fund-of-funds, offshore funds, and a range of equity, debt, and balanced funds.

8) Axis Asset Management Company

Since its launch in October 2009, Axis Mutual Fund has grown significantly. It now offers about 67 schemes and serves over 1.26 crore investor accounts across more than 100 locations in India.

9) Mirae Asset Global Investments (India Pvt. Ltd.)

Mirae Asset Mutual Fund, run by Mirae Asset Investment Managers (India) Pvt. Ltd., is part of the South Korea-based Mirae Asset Financial Group. Founded in 2007, Mirae focuses on providing steady, long-term growth through active fund management.

10) DSP Asset Management Company

DSP Asset Management Company manages DSP Mutual Fund and is backed by the DSP Group, a long-established Indian financial firm. The DSP family also set up DSP Merrill Lynch Limited, an investment banking business, in 1996.

Conclusion
Choosing the right asset management company in India is key to making profitable investments. These companies help manage assets to reduce risks and boost returns. With well-researched and diversified portfolios, investors can work toward their financial goals. Investors need to pick a fund management company that aligns with their specific needs and goals. 

Disclaimer
We encourage you to please do your research and also review all information carefully before investing. Investments come with risks. Make sure to read all relevant documents and risk disclosures thoroughly before investing in mutual funds, stocks, derivatives, or other securities on the stock exchange.